Should we fire our agent (sale fallen through for 2nd time)?

[Closetlibrarian]

This is a bit of a WWYD...

House went on market in March, we had two cash asking price offers within days and sold to the couple who went a (tiny) bit higher. 3 months later, a few weeks shy of exchange, they pull out due to a close family death. Straight back on market. Only one offer this time, but again just over asking price and no chain. That was within about 8 days. It now looks like this buyer is pulling out due to issues with getting his mortgage.

Throughout this our agent has been good, but at times not as proactive or assertive or problem-solving as I'd expect. In particular, they don't seem to be doing much to avert it falling through for the 2nd time, even though I'm making lots of very sensible suggestions (which frankly, I feel they should be coming up with) on how to stop it falling apart again. Agent also isn't very good at communicating what the actual issue is with the buyer and therefore I'm not confident they're clearly communicating potential solutions to the buyer. However, they were pretty on the ball when it fell through first time, drumming up 6 viewings within days of that happening. Plus, the fact that we've had just-over-asking-price offers so quickly both times is something in their favour, I guess?

Our house is a bit of a 'niche' one and we're marketing with a national agency who specialise in this type of house. So, they're hitting a potential market that a local agent couldn't, which is what is making me reluctant in firing them. But I feel that a sale falling through once is bad luck, twice starts smelling of incompetence.

The seller of the house we're buying is relatively relaxed about all this and waited for us when the sale fell through the first time. I'm not sure if they'll wait for us again, or for how long. But it's a house we're desperate to buy (in a v. small area in which houses in our budget that are suitable come up extremely rarely), DC are already registered to move schools in Sept (because we had to do that before end of the school year), etc. It's been so stressful and disruptive.

I don't know what to do! And I'm going a bit demented with the stress of it all...

To be fair to the agent, I'm not sure how much it's them and how much it's just bad luck that two different occurrences with your two buyers meant that the sales have fallen through. Having said that don't agents usually request proof of mortgage funds? (not sure about this personally as our buyers and us are both purchasing mortgage free). What's your local market like? We sold back in early March and complete next week, other properties in our area sold in that early spring window - properties coming on after that seem to be sitting on the market. I definitely think the market is slowing in some areas - not just London!

It’s your solicitor who should be pushing just as much as the agent. He/she’s the one who gets down to the nitty gritty. The agent will be almost as keen as you as he won’t get paid otherwise.
No one could have helped the first issue, the second is fairly common too and while your agent can ask for mortgage in principal that isn’t a guarantee they’ll get it.

Pipandmum Err, that's incorrect re the solicitor. The only nitty gritty they are responsible for is the transfer of legal title. Closetlibrarian Your solicitor acts for you, but is not in any way involved in the marketing or sale of your property. They are also not in any way involved in your buyers and their reasons for pulling out, i.e. your solicitor would not be a party to knowing personal circumstances within the buyer's family, nor would they know that a mortgage had been refused, or why. Agree that the EA may have been more pro-active, but a mortgage in principle doesn't automatically mean it's a given. Perhaps the buyer didn't meet with the EAs mortgage advisor, instead tried to arrange his own mortgage. Who knows? It happens. You have sold at least twice, you will sell again.

I don't think it's the EA's fault your buyer cant get a mortgage. Do you know why & is it solvable...??

Your sale falling through twice was not your agents fault. My sale has also fallen through twice, the last time a week ago. The agents have been awesome. There wasn't anything they could have done. I find that people make offers and then rescind them for the smallest of reasons. The house buying system in England is frankly unfit for purpose.

Yes, I’m not blaming the EA for the first one. That was just horrible luck. This second one though, which is still in play, I think they could be doing so much more to prevent the buyer dropping out. It’s not that he can’t get a mortgage - it’s more complicated than that and we’ve suggested several solutions to the problem that I just feel are being effectively communicated via the agent. The EA doesn’t seem to be being proactive in any way and is taking a ‘I’ll let you know if there are any updates’ approach rather than actually contacting the buyer and trying to find a way through this.

It’s so frustrating and I feel so powerless to stop it all going tits up again and I just don’t feel the agent is fighting our corner as hard as they could be.

The issues with getting the mortgage would be enquiries going through your solicitor would it not?

Can you contact the buyer directly?

No WBWIFE this is a matter for the EA, not solicitors. Solicitors don’t deal with getting mortgages, they only engage with that side of things once you have the mortgage offer.

Oh really? As when our mortgage valuation came below what we had offered our solicitor told our vendors that we wouldn't obtain a mortgage on the agreed amount as it had been valued under the asking price so our lender wouldn't lend. Maybe it was a one off then

Are any of the previous bidders still interested? They may regret losing it and want a second chance. Your EA should have contacted them when the first sale fell through. Your current buyer might be stalling to see if interest rates get lower or if something better comes along. Is he hoping to drop his price. 🤔

Yes, they contacted previous bidders when the first lot pulled out. They'd already moved on and found a different house.

Current buyer definitely not stalling. I think actually they've just had a change of heart but don't have the balls to say that and are instead dressing it up as logistic issues to do with timings, mortgage, etc, which are making them threaten to pull out. It's complicated. And I don't think our agent is getting to the heart of it. It's all just a bit weird and I don't really understand why, given the circumstances, it's falling through. They seem very keen. We have presented multiple solutions to the issues they are facing and they either aren't willing to engage with these solutions or the agent isn't actually passing them on in a clear and concise way. We have had issues with her communication. She can be really wishy-washy and vague and not very responsive. Hence my thoughts about, if this 2nd buyer does fall through, firing them and getting a different agent on the case.

Hi
I hope this have been resolved satisfactorily by now but if not why not demand ask politely to speak to the manager and explain to him why you are thinking of leaving. I think this may gee things up a bit as it reflects badly on them if you do as well as them losing the commission.

I did this, got a load of spiel about nothing could have been done any differently but strangely enough things started to move.

Show us your house OP 👀